Indonesia's Big Banks Accelerate at the Start of the Year - Who is the Winner?
Jakarta - The big cap state-owned banks demonstrated solid performance in January 2026. Three major state-owned banks, PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), and PT Bank Negara Indonesia (Persero) Tbk (BBNI), recorded positive profit growth in the first month of 2026 on a year-on-year basis.
Bank Mandiri recorded net profit of Rp4.65 trillion in January 2026, an increase of 16.18% year-on-year compared to January 2025’s profit of Rp4.00 trillion. This achievement positioned Bank Mandiri as the bank with the largest profit among the three major banks analysed in that period.
This profit growth was driven by fairly aggressive business expansion, particularly in credit disbursement. By January 2026, Bank Mandiri’s total credit disbursed reached Rp1.511.41 trillion, increasing 15.62% year-on-year compared to Rp1.307.18 trillion in the same period the previous year.
On the funding side, Bank Mandiri also successfully increased third-party fund collection (DPK) significantly. Total DPK reached Rp1.635.48 trillion, growing 17.29% year-on-year from Rp1.394.40 trillion in January 2025. The relatively balanced growth in credit and third-party funds demonstrates Bank Mandiri’s ability to maintain business expansion whilst sustaining strong liquidity.
Meanwhile, BRI recorded the most notable performance in terms of profit growth. In January 2026, BRI posted net profit of Rp3.72 trillion, surging 85.40% year-on-year compared to January 2025’s profit of Rp2.00 trillion. This surge demonstrates significant performance improvement compared to the previous year.
From an intermediation perspective, BRI recorded fairly solid credit growth. Total credit disbursed reached Rp1.354.08 trillion, increasing 11.95% year-on-year compared to Rp1.209.51 trillion in the same period the previous year.
On the funding side, BRI also successfully increased third-party funds to Rp1.495.69 trillion, up 9.96% year-on-year from Rp1.360.16 trillion in January 2025. Stable credit growth and increases in third-party fund collection demonstrate that BRI’s strong business foundation in the MSME segment remains the main driver of company growth.
BNI recorded net profit of Rp1.68 trillion in January 2026, growing 3.45% year-on-year compared to the same period the previous year at Rp1.62 trillion. Whilst profit growth was relatively moderate compared to other banks, BNI demonstrated fairly aggressive expansion from an intermediation perspective.
BNI’s credit disbursement reached Rp894.29 trillion, increasing 19.27% year-on-year compared to January 2025 at Rp749.82 trillion. Additionally, BNI also recorded very strong growth in third-party fund collection. Total DPK reached Rp1.051.49 trillion, surging 35.80% year-on-year from Rp774.28 trillion in the same period the previous year. This significant increase demonstrates improved liquidity and expansion of the customer deposit base.